I must admit that I have done this on my own Mk2. There are two types of IDE cable, the newer grey one with a black stripe, and the older light grey one with a pink stripe. This latter one is the one with the problem.

I bought a parallel-face welding clamp with rubber faces. It has a ratchet action, and a spring loaded grip. What I have found is that it is possible to re-crimp the connectors on the cable with this tool if a bit of care is used. So far, I have had my re-crimped version in the player for a year without any problems so far.